HONGKONG (February 12): THE Great Barrier Reef Resort, a seven-storey hotel built on top of a barge, will be towed from its present anchorage off the northeast coast of Australia to Hongkong waters in a matter of weeks, if the government gives its approval. Hongkong-listed EIE Development Corporation, which bought control of the floating hotel this month, is seeking approval from the authorities for the move. Despite its deluxe facilities and a scenic location amid the world's largest coral reef, the unique 201-room, five-star hotel saw occupancy drop to 20 per cent under the management of the New Zealand company, New Seasons. 'The worth of the hotel is not how much money it's making, but how much it can make, because of its uniqueness,' said Dr Bunko Ishizaki, EIE's senior investment adviser. 'It's like the Love Boat - very romantic and upmarket.'